Friday, 16 April 2010

BIR exceeds 1st quarter collection target

The Bureau of Internal Revenue (BIR) has exceeded its collection target for the first quarter of the year by P14.6 billion or 9.27 percent.

BIR Commissioner Joel Tan-Torres said that from January to March, BIR’s income tax collection reached P172 billion, higher than its target of P157.7 billion.

“We are off to a good start. We have exceeded the collection target for the past three months of the year,” Tan-Torres said in a news conference in Malacañang this afternoon.

He attributed the feat to the continued support of the taxpayers and the efforts of the BIR in enhancing taxpayers’ service and enforcement and collection strategies.

The last time the BIR exceeded annual collection target was in 2003.

“If we continue this, it will benefit all of us. The deficit will be better managed. We would be able to borrow less. We’ll have more funds for developmental needs,” Tan-Torres said.

With the deadline of filing income tax set today (April 15), he reminded businessmen/entrepreneurs that they still have until midnight to file their income tax in BIR field offices. (PND)

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